Crude oil clears $102 a barrel, highest in a month

The Associated Press

Posted:
04/08/2014 03:53:36 PM MDT

Updated:
04/08/2014 04:23:43 PM MDT

Crude oil prices are closing higher as tensions escalate in Ukraine.

The actively traded May contract rose $2.12, or 2.1 percent, to settle at $102.56 a barrel. It was the highest price for oil in a month. Traders worry that if tensions get too high it could jeopardize the flow of Russian oil from the region.

There were more signs of unrest in Ukraine on Tuesday. Security forces ousted pro-Russian protesters from an occupied government building in the eastern city of Kharkiv, while regional administration headquarters in Donetsk remained under protesters' control. They are demanding referendums on the regions' status, which could pave the way for further annexations by Russia.

Gold for June delivery rose $10.80, or 0.8 percent, to $1,309.10 an ounce and silver rose 15 cents, also 0.8 percent, to $20.06 an ounce. Platinum for July delivery rose $13.90, or 1 percent, to $1,441.70 an ounce and June palladium rose $8.20, or 1.1 percent, to $775.85 an ounce.